The California Democratic Party has endorsed Proposition 40, a November ballot measure that would impose a one-time 5% tax on the assets of California billionaires, handing supporters a political victory despite opposition from Gov. Gavin Newsom and several influential labor groups.
The endorsement, approved over the weekend, bolsters proponents' efforts to convince voters to back the measure, which supporters say would help fund California's healthcare system amid concerns about federal healthcare funding cuts.
Prop. 40 is being led by SEIU-United Healthcare Workers West, which argues the tax would require California's wealthiest residents to help offset healthcare funding losses and keep hospitals and emergency rooms operating.
"This endorsement puts to rest the idea that California Democrats are not united by the billionaire tax - they are," said Dave Regan, president of SEIU United Healthcare Workers West. "Polling shows that more than 80% of registered democrats support this critical solution to our healthcare crisis and now the Democratic party of California has officially embraced that strong support through this endorsement."
